Your Questions About Paper Trading Site

Jenny asks…

what is the best and cost effective way to advertise a new web sites name?

We are about to launch a new site in about 6 months. We are completing data work for the site to be funtional for its sole purpose. So, we have this site and we have no intentions in getting involved with pay per click, we can easily be indexed by search engines but thats truly not enough. We need to focus on all businesses by state starting with the east coast in its intirety. Where should we start. Buying lists in those quantites is expensive. All suggestions truly welcome. Thanks , Tim C

John answers:

A common misconception is that you need to advertise online. We have found that the old fashioned methods are best. Small ads in relevant trade publications work well, same applies to ordinary daily newspapers, especially on the days when they have a business supplement or a section devoted to your particular interest. If you can get a publication to feature you and write an article, that’s even better. Try sending a press release to their business desk. Don’t dismiss local newspapers and publications as being to ‘small’ for you. Local papers like to report on local businesses and then the ‘ripple’ effect will do a lot of work for you as people will tell others via links in their emails. This one was a real money spinner for us and cost us nothing! After that,the trick is to keep your site current and fresh and to make it interesting to read. This is what gets you into the google ratings, whatever else people may tell you Try to make sure its appearance is not too similar to others selling the same type of stuff. If you can manage to design a site from scratch, rather than using templates, you will have a head start as your site’s unique appearance will make it memorable. After that, a good way to get people repeat visiting is to offer the option to ‘opt in’ to a mailing list for a newsletter every time new content is added to your site. (This can all be automated) This also keeps you on your toes as you have to add new stuff every month. Not doing so will lose you business anyway If you do this, you will also need to include a link in the email, to the site, as people are, in general, very good at intending to have a look later, then forgetting. You will also, to comply with regulations, need to include an ‘unsubscribe’ link to keep your mailing list up to date and avoid hassling people. A suggestion to add your email/web address to their ‘ safe’ list, will also avoid your email being blocked as spam. Good luck!

Susan asks…

what are good sites to buy cheap horses on?

I am looking for a new horse or pony but i live in Tasmania. Does anybody know of any good sites to look on that has hoses/ponies that have been broken in that are either free or of very low price?

John answers:

Gumtree is always a good place to start but it is hard to find horses in tasmania since it is so small! The Trading Post is also a good place to look. Also you can go on facebook and look up horses for sale tasmania and there are a few pages on there that are really good, you just need to have a look. Also there is a woman and her daughter who are into rescuing all animals large and small who have a farm call ‘Brightside’ and they rescue a lot of unwanted horses and horses that were destined for meat. They sell some of their horses so you can add them as a friend on facebook and ask them what horses they have available. Also just having a look in The Mercury paper can come up with some good ones. I bought my gorgeous mare out of the paper for only $700 and she was a riding school horse at only 14years and 16hh.

Websites are www.gumtree.com.au
www.tradingpost.com.au
This is the web page for horses for sale in tasmania through facebook: https://www.facebook.com/media/set/?set=a.10151145543098599.466138.522823598&type=1#!/groups/206303556075395/

And this is brightsides facebook where you can contact them: https://www.facebook.com/BrightsideFarmSanctuary?ref=ts

Hope you find a Lovely horse!

Nancy asks…

what is a dmat account? what is the best way to do online trading?

what is the best way to do online trading?where is the complete
guide to online trading ? how can we earn in online trading ?

John answers:

Demate account is a account where all your paper format shares are converted to electronic form and tension free process. Try http://www.icicidirect.com the best site for online trading and best guide too

Helen asks…

What am I better to trade out of currencies, commodities or stocks?

I am 18 years old and I have been teaching myself about various different investments, and the vehicles you can use to trade them. What I would like to know is what is better/safer/advised to trade out of currencies, commodities or stocks? Please give a good reasonable answer with advice to earn best answer. Thanks.

John answers:

All investment are risky.. There is no such thing as a “safe” investment.

What you trade depends upon you & your personality.

You can download any of the major brokerage platforms – I like thinkorswim.com but there are plenty of others. The provide what they call a “paper account” – a demo account in effect. The give you a balance of play money & you can play around with their system & see how you go.

This will give you an appreciation of how things work & the risks involved.

Currencies are a little more exciting as you tend to trade on margin – its the most liquid market, so you always get moves of one way or another.

I trade all three like so..

– currency [long call options only – making long term plays]
– commodities [via etfs & long calls only – never on margin]
– stocks [via etfs & long term calls – happily use margin here]

You might like visit our site: www.thedailytradingreport.com for our investment overview.

Daniel asks…

What is the best way to start stock trading?

Any recommendations and tips?Suggestions will be appreciated as I will be beginning to trade for the first time,thanks !
what is the safest amount for a beginner to begin trading and also how frequently should a follow up be to be safe?

John answers:

There are many sources that would say they have the answer for you- and they may- but the professional sources all come with a price and they cannot gaureentee you any form of success. The price range for information and knowledge may range from $14.95 to $25,000.

However, you can learn stocks and options on your own if you know 1) how to ask questions, 2) how to read answers, and 3) spend some money on your own education by investing in some good books.

You’ve taken your first step by asking how to start stock trading. Congrats!

Here are my recommendations to start trading in the stock market without spending alot or any money:

1. Read up on the news. I have found that yahoo.finance is a good source of news. Get your news from Yahoo Finance and from Google Finance. It is good to be updated on what is going on with the economy and that knowledge will help you understand your investment decisions later. Also, you will begin to become aware of the lingo of investing. Investing is a whole world unto itself.

2. Get a free stock chart program from MarketBrowser. This is a very good program with several tools that can help you. They have several links to various news and stock information sources. They hold up to 36 charts per worksheet and are fabulous to look at. They also have the capacity to give you currency charts (though I don’t use it for this).

3. Learn the fundamentals of stock trading. There are some sites that you can go to to learn the basics as well as different trading strategies. I prefer strategies that involve options (stock) and so have included a link to it as well. The Chicago Board of Options Exchange (CBOE) also has a learning Center which gives you different trade strategiesgive for options as well as a basic overview of what they are.

For stocks this seems to be a good site: www.stocktradingtogo.com/free-education/

4. Get experience with a virtual trader. Before you ever commit real money you need to have a degree of confidence that you can at least place the orders without making a mistake that will cost you money. Thus you have need for a virtual trader. I have been very satisfied with the virtual trader powered by optionsXpress for both stocks and options (which is the reason why I have chosen them as my online broker. I was able to open an account with them without funding it for up to a year before they required me to acutally put money into my account. I was tempted to use another broker but they only gave me a month of time before I had to fund my account). However, CBOE also has a free virtual trader that you can use, and, guess what… It is the same one I use at optionsXpress; that is, optionsXpress powers their virtual trader. There is also a paper trader powered by ThinkorSwim via the CBOE.

5. Develop a plan, or set of plans. This may seem to be out of order but once you have a plan that works for you you may want to really test it. There is a big difference between virtual trading and real trading in that when you virtual trade you know that it isn’t real. That’s it. With a good virtual trader you have pretty much the same experience as you do making the actual trade but the real thing feels very different I assure you. You may not believe that there is much difference and maybe you can pretend to treat the virtual trader as “real” but when it is finally real and you are really put to the test you will know what I mean.

6. After you have some experience, open an account with an online broker. Why? Because I don’t know of any better way to trade stocks and options than using an online broker. OptionsXpress also has a “live chat” option which allows you to clink a tab and get online assistance immediately. Some people prefer to talk on the phone perhaps, but I like the ability to see the chat I had and refer to it later if I need to.

7. Continue your education. Read good books, and maybe invest in education. I spent $25,000 on stock education, which I look back at and wonder if it was worth it. In hind sight I can say “yes” as I would have never known how to get into stocks myself. My $25,000 was a token of my commitment to succeed- but I wish I could have found a cheaper way of doing it. I bet Batman wishes his parents weren’t killed by bandits (Yes, I know he’s not real but suffer through my example) but if they weren’t there’d be no Batman. The internet has a great source of education!

Everyone is different. I had access to online coaches, which I used to some extent, but not much. I prefer to learn on my own and there is this fundamental truth- You are always solely responsible for all of your own trades. No one can or will ever accept responsibility for your trade decision.

Bottom Line: Eventually you’ll have to open an online account, but you don’t have to do that in order to get some experience. Get some knowledge, some experience, some practice, and then you’ll see more clearly.

Hope this helps. I wish someone did

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